According to Cointelegraph, WisdomTree has announced that debit card holders can now spend directly from its tokenized on-chain money fund. The asset manager has integrated the WisdomTree Government Money Market Digital Fund (WTGXX) into its Visa debit card, allowing users to fund their daily purchases through the app while potentially earning yield from the WTGXX investment until it is sold for spending, as stated by Will Peck, WisdomTree’s head of digital assets.
WTGXX is a tokenized real-world asset fund that includes United States Treasury bills and other highly liquid assets, yielding around 4.6% as of October 9. The fund currently manages approximately $12 million in assets. WisdomTree operates over a dozen tokenized investment funds, with holdings ranging from money market instruments to S&P 500 stocks and US Treasury bonds. The largest funds by assets under management are the BlackRock USD Institutional Digital Liquidity Fund (BUIDL) and the Franklin OnChain US Government Money Fund (FOBXX), with AUM of approximately $520 million and $440 million, respectively.
In September, WisdomTree launched an RWA platform called WisdomTree Connect, designed to allow users to access the asset manager’s regulated fund tokens from any wallet or blockchain network. Initially, the platform will custody users’ tokenized investment funds with third-party custodians while sending a digital record of ownership to the user’s personal wallet. WisdomTree aims to eventually expand access to its RWAs to other customer-facing platforms and apps, including retail users with self-hosted wallets.
Real-world assets, including tokenized claims on financial assets, commodities, or art, currently have nearly $13 billion in total value locked, representing a $30-trillion market opportunity globally, according to Colin Butler, Polygon’s global head of institutional capital.